Shanghai Zendai Property Limited announced earnings guidance for the year ended 31 December 2017. The company expected to record a profit for the year ended 31 December 2017 as compared to a loss for the year ended 31 December 2016. Based on the preliminary review of the information currently available, such turnaround from loss to profit was principally attributable to the gain on revaluation of the Group's equity interest in a company, which was previously accounted for using the equity method, but was re-measured at fair value when the Group acquired the remaining equity interest of that company from a third party which constituted a business combination in December 2017.